Jacobs Levy Equity Management Inc. Sells 12,289 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Jacobs Levy Equity Management Inc. trimmed its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,724 shares of the company's stock after selling 12,289 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.52% of Harmony Biosciences worth $9,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aurora Investment Counsel increased its position in shares of Harmony Biosciences by 0.6% during the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock valued at $2,047,000 after buying an additional 374 shares during the period. Rhumbline Advisers increased its position in shares of Harmony Biosciences by 0.4% during the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock valued at $3,620,000 after buying an additional 485 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Harmony Biosciences by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock valued at $2,145,000 after buying an additional 678 shares during the period. CWM LLC increased its position in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after buying an additional 698 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Harmony Biosciences by 6.4% during the first quarter. Arizona State Retirement System now owns 12,261 shares of the company's stock valued at $407,000 after buying an additional 737 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HRMY. Oppenheimer assumed coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Truist Financial assumed coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective on the stock. Finally, Wall Street Zen cut shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Stock Down 3.1%

Shares of NASDAQ:HRMY traded down $1.03 during trading on Friday, reaching $32.39. 809,622 shares of the stock traded hands, compared to its average volume of 627,965. The stock has a 50-day moving average of $35.65 and a two-hundred day moving average of $33.55. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The stock has a market cap of $1.86 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). The firm had revenue of $200.49 million for the quarter, compared to analysts' expectations of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.